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Registration number: 01825199

Le Gavroche Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2023

[FRS 102 SECTION1A]
[FILLETED FOR FILING PURPOSES]

 

Le Gavroche Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Le Gavroche Limited

Company Information

Directors

Mr M A Roux

Mrs Emily Amandine Roux

Registered office

25 Green Street
London
W1K 7AX

Accountants

Tremaines Ltd
East Wing, South Hill
Paddockhurst Road
Turners Hill
West Sussex
RH10 4SF

 

Le Gavroche Limited

(Registration number: 01825199)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

20,280

34,571

Other financial assets

-

7,500

 

20,280

42,071

Current assets

 

Stocks

5

2,474,077

2,563,016

Debtors

6

178,062

195,011

Cash at bank and in hand

 

1,281,015

1,196,664

 

3,933,154

3,954,691

Creditors: Amounts falling due within one year

7

(463,431)

(628,338)

Net current assets

 

3,469,723

3,326,353

Total assets less current liabilities

 

3,490,003

3,368,424

Creditors: Amounts falling due after more than one year

7

-

(66,288)

Provisions for liabilities

(18,457)

(12,363)

Net assets

 

3,471,546

3,289,773

Capital and reserves

 

Called up share capital

8

945

945

Share premium reserve

497,781

497,781

Capital redemption reserve

-

1,055

Retained earnings

2,972,820

2,789,992

Shareholders' funds

 

3,471,546

3,289,773

For the financial year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

 

Le Gavroche Limited

(Registration number: 01825199)
Balance Sheet as at 30 June 2023

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 18 March 2024 and signed on its behalf by:
 

.........................................
Mr M A Roux
Director

 

Le Gavroche Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
25 Green Street
London
W1K 7AX

These financial statements were authorised for issue by the Board on 18 March 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sales of good and provision of services, net of discounts and sales taxes, in the ordinary course of the Company’s activities.

Foreign currency transactions and balances

Transactions denominated in foreign currencies are initially recorded at the rate of exchange as at the date of the transaction. Year end balances are retranslated at the rate of exchange as at the year end with exchange differences included in arriving at profit before tax.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Le Gavroche Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Deferred tax is recognised in respect of all timing differences (including fair value adjustments) that have originated but not reversed by the balance sheet date except that a deferred tax asset is only recognised to the extent that it is regarded recoverable. Deferred tax is measured using the tax rate that is expected to apply in the periods in which the timing differences are expected to reverse.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & Machinery

Between 10 and 25%

Motor vehicles

25%

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Provisions

Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

 

Le Gavroche Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
The Company only enters into basic financial instruments transactions that result in the recognition of the financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.
 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 47 (2022 - 46).

 

Le Gavroche Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 July 2022

426,079

260,248

12,050

951,720

1,650,097

At 30 June 2023

426,079

260,248

12,050

951,720

1,650,097

Depreciation

At 1 July 2022

402,839

248,912

12,050

951,720

1,615,521

Charge for the year

10,836

3,460

-

-

14,296

At 30 June 2023

413,675

252,372

12,050

951,720

1,629,817

Carrying amount

At 30 June 2023

12,404

7,876

-

-

20,280

At 30 June 2022

23,240

11,331

-

-

34,571

Included within the net book value of land and buildings above is £12,404 (2022 - £23,240) in respect of short leasehold land and buildings.
 

5

Stocks

2023
£

2022
£

Other inventories

2,474,077

2,563,016

 

Le Gavroche Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

6

Debtors

2023
£

2022
£

Trade debtors

49,002

59,814

Prepayments

86,219

42,111

Other debtors

42,841

93,086

178,062

195,011

Current

2023
£

2022
£

Trade debtors

49,002

59,814

Prepayments

86,219

42,111

Other debtors

42,841

93,086

 

178,062

195,011

 

Le Gavroche Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

200,101

172,365

Taxation and social security cost

 

232,995

358,314

Bank loans and overdrafts

9

-

22,727

Other creditors

 

30,335

74,932

 

463,431

628,338

Due after one year

 

Loans and borrowings

9

-

66,288

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

-

66,288

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

945

945

945

945

         
 

Le Gavroche Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

-

66,288

2023
£

2022
£

Current loans and borrowings

Bank borrowings

-

22,727

10

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The Company has property leases which expire in 2024. Total commitments for future rents under these leases amount to £358,000 (2022 - £518,000).

The total amount of guarantees not included in the balance sheet is £1,250,000 (2022 - £1,250,000). The Company has agreed to guarantee bank borrowings made by a company of which Mr M A Roux is a director. The guarantee is secured by legal charges over certain stock and life insurance policies.